A new Plan for Accelerating Exploration (PACE) partnership program would support industry through co-funding grants for drilling, geophysics, research programs and groundwater investigations, with a strong focus on partnerships in under-explored and prospective provinces across the state.

The PACE initiative was first established under a Labor Government in 2004 and is widely recognised as a key contributor to advancing geoscientific data acquisition, fostering innovation partnerships, supporting critical research and driving exploration success.

It is estimated that every dollar of government investment under PACE schemes leverages up to $20 in private capital. The program also supports junior and new market entrants targeting emerging plays, helping to build greater capability and complexity within South Australia’s energy production sector.

A re-elected Malinauskas Labor Government will commit $3 million per year over the next four years to accelerate exploration, recognising the importance of the mineral resources industry and the need to drive new discovery.

This funding, complementing the work of the world-renowned Geological Survey of South Australia (GSSA), will play a key role in South Australia’s next chapter of mineral exploration and discovery.

This commitment recognises both the importance and the challenging nature of mineral exploration and will back the industry to undertake the work required to prove up mineral wealth and deliver outcomes at pace.